Al Karma Developments to pump EGP2bn investments into Egypt

Al Karma Developments is poised  to pump EGP2bn investments into the Egyptian real estate market in the span of two to three years. 

Al Karma Developments has unleashed Al Karma Gates with investments worth EGP1.8bn at the heart of Sheikh Zayed City. 

Al Karma Gates spreads over  36 acres with a built-up space  constituting 13.5% of the compound’s total area, as the project consists of 180 diversified units ranging from standalone villas, townhouses and twin houses. 

 The project features ritzy  architectural landscaping, units with upscale designs and  ideal luxurious  living spaces, alongside four gardens with open spaces for games. The project is scheduled to be delivered in the span of four years, by 2024.

Chairman of Al Karma Developments Eng. Ahmed Abu Hussein said that Al Karma Gates is the latest project unleashed by the company,  following that of  “Karma 4”.

Al Karma Gates is built using the best and world standard  materials and features upscale services, as Al Karma  is a family-based integrated community with comfort tools and services taking center stage. It’s also equipped  with varied utilities such as sporting clubs, commercial malls, kids games spaces, etc..

“ Al Karma strategy focuses on maintaining our leadership in the real estate sector by means of injecting more investments all the time and setting up integrated urban communities. Egypt’s real estate sector is spearheading development efforts in the face of coronavirus-induced headwinds, as the state is exerting its utmost efforts in supporting the sector which is seen as one of the Egyptian economy pillars.”    

Al Karma Gates is made up of five designs for standalone villas with spaces ranging from 295, 314,347, 386, and 414 square meters. Also, town house and town house are  235 sqm and 206sqm respectively, as the project consists of green spaces and a “Club House” spreading over 4,200 sqm. 

Al Karma project kicked  off in 1995, as it is one of the companies that first introduced the idea of building enclosed compounds at the heart of Sheikh Zayed City.